Related Party Transactions

9 Months Ended

Sep. 30, 2011

Related Party Transactions [Abstract]

Related Party Transactions

NOTE 6. RELATED PARTY TRANSACTIONS

The following table reconciles the beginning and ending balances of accounts receivable from and (accounts payable) to affiliates as of September 30, 2011 (dollars in thousands):

	Prime		Pillar		ARL		Total
Balance, December 31, 2010	$	-	$	-	$	(47,261)	$	(47,261)
Cash transfers		3,588		7,536		-		11,124
Advisory fees		(3,528)		(4,382)		-		(7,910)
Cost reimbursements		(1,658)		(99)		-		(1,757)
Interest to advisor		(926)		(878)		-		(1,804)
POA fees		(10)		(42)		-		(52)
Expenses paid by advisor		(1,240)		2,233		-		993
Financing (mortgage payments)		(382)		(5,041)		-		(5,423)
Note receivable with affiliate		8,016		2,825		-		10,841
Sales/Purchases transactions		888		(5,307)		-		(4,419)
Intercompany property transfers		8,543		4,383		-		12,926
Purchase of obligations		(13,291)		(1,228)		14,519		-
Balance, September 30, 2011	$	-	$	-	$	(32,742)	$	(32,742)

During the ordinary course of business, we have related party transactions that include, but are not limited to rent income, interest income, interest expense, general and administrative costs, commissions, management fees, and property expenses. In addition, we have assets and liabilities that include related party amounts. The affiliated amounts included in assets and liabilities, and the affiliated revenues and expenses received/paid are shown on the face of the financial statements.